Impact Hub Lagos and Accra are accepting applications for the New Economy Booster programme, which seeks to find actionable solutions to the challenges brought about by the COVID-19 pandemic across various industries including the creative sector.
It will be conducted in a non-linear schedule between September 2020 and February 2021.
Early-stage creative ventures, startups, NPOs or initiatives contributing to the post-pandemic economic recovery in Nigeria and Ghana are encouraged to apply.
The programme will be conducted virtually for seven months after which the successful candidates will receive a range of customised content and resources to develop and grow their business and network. They will be guided by a team of local and global experts.
“Our goal is to boost high-potential solutions or ventures that are already in the market or ready to go to market and are creating a positive impact on challenges faced by key sectors in the Ghanaian and Nigerian economies,” Impact Hub said. “This is an opportunity to bring ventures to the next level, advance business skills, receive expert advice, and nourish potential investor relationships.”
GetFundedAfrica’s mission is to uplift people and economies in Africa through entrepreneurship; helping companies find funding, grow, create jobs and solve society’s greatest challenges
The training programme for applicants from Nigeria will address challenges in the following sectors:
- Creative and culture
- Agriculture
- Healthcare
- Education
The training programme for applicants from Ghana will address challenges in the following sectors:
- Agriculture
- Healthcare
- Education
- Tourism and hospitality
- Manufacturing
- Trade
The training will be conducted in the following phases:
- Phase one – The one-month selection of 500 innovative solutions (250 per country) that address the identified challenges.
- Phase two – The top 100 ventures (50 per country) will for two months receive five hours of coaching, access to resources and connections and an online community to network for their project/business.
- Phase three – The top 30 ventures (15 per country) will for four months receive project management and coordination guidance, a tailored diagnostic and development plan and access to a support network to help grow the business/project.
Selection process
Applicants will be accepted into the programme based on their project’s:
- Impact – The potential recovery of the post-COVID-19 economy in Ghana and/or Nigeria.
- Scalability – The proposed solution should have the potential to create local employment opportunities.
- Feasibility – The proposed solution should be technically and economically feasible.
- Team – The project team should be committed to following through and collaborating.
The selected participants will benefit from the following:
- Business coaching.
- Senior expert advice and consulting services.
- Meet potential investors and have facilitated introductions to fundraising opportunities.
- Access personal development and technical skills training.
- Get peer support from other participants.
- Access partnership-building opportunities.
- Have an expert in residence, helping the project develop.
- Work and meet at an Impact Hub space (once lockdown restrictions are lifted).
How to apply
- Interested participants from Nigeria should the guidelines here before submitting their application here.
- Interested participants from Ghana should read more guidelines here before submitting their application here.
The application deadline is 17 September 2020 or after the first 500 submissions (250 per country).
In this episode of GFA-Attract, we discuss with Kennedy Mubita, Nairobi based Venture Capital Lead for Africa & Middle east at SC Ventures, the venture capital arm of Standard Chartered Bank. SC Ventures is a $100 million fund focused on FinTech investments.
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